Russell Investments Group Ltd. Has $9.83 Million Stake in Ingevity Corporation (NGVT)
Russell Investments Group Ltd. lifted its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 3,203.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,342 shares of the company’s stock after purchasing an additional 152,579 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.37% of Ingevity worth $9,829,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in NGVT. Royal Bank of Canada increased its stake in shares of Ingevity by 169.9% during the 2nd quarter. Royal Bank of Canada now owns 535,159 shares of the company’s stock worth $30,718,000 after purchasing an additional 336,897 shares during the last quarter. Marshall Wace North America L.P. increased its stake in shares of Ingevity by 4,456.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 263,974 shares of the company’s stock worth $15,046,000 after purchasing an additional 258,180 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Ingevity by 320.0% during the 2nd quarter. Wells Fargo & Company MN now owns 302,614 shares of the company’s stock worth $17,370,000 after purchasing an additional 230,558 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. increased its stake in shares of Ingevity by 34.3% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 887,324 shares of the company’s stock worth $50,932,000 after purchasing an additional 226,830 shares during the last quarter. Finally, Chilton Investment Co. LLC boosted its holdings in shares of Ingevity by 26.3% during the 2nd quarter. Chilton Investment Co. LLC now owns 1,066,649 shares of the company’s stock worth $61,226,000 after buying an additional 221,932 shares during the period. Institutional investors own 91.41% of the company’s stock.
Ingevity Corporation (NYSE NGVT) traded down $1.74 during midday trading on Wednesday, hitting $77.25. 195,000 shares of the company traded hands, compared to its average volume of 247,868. The company has a current ratio of 2.36, a quick ratio of 1.34 and a debt-to-equity ratio of 1.92. The company has a market cap of $3,250.00 and a P/E ratio of 31.98. Ingevity Corporation has a fifty-two week low of $48.74 and a fifty-two week high of $80.18.
Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.11. Ingevity had a net margin of 9.86% and a return on equity of 58.14%. The firm had revenue of $264.10 million during the quarter, compared to the consensus estimate of $260.88 million. During the same period in the prior year, the firm earned $0.64 EPS. The business’s revenue was up 4.6% on a year-over-year basis. sell-side analysts anticipate that Ingevity Corporation will post 2.49 earnings per share for the current fiscal year.
Several analysts recently issued reports on NGVT shares. KeyCorp reaffirmed a “buy” rating and set a $75.00 price objective (up from $70.00) on shares of Ingevity in a report on Thursday, October 5th. Zacks Investment Research raised shares of Ingevity from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Wednesday, October 4th. Loop Capital started coverage on shares of Ingevity in a report on Thursday, September 28th. They set a “buy” rating and a $73.00 price objective for the company. BidaskClub raised shares of Ingevity from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Finally, Jefferies Group upped their price objective on shares of Ingevity from $71.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Eight investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $75.57.
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Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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